Factory Mutual Insurance Co. Increases Holdings in Thermo Fisher Scientific Inc. $TMO

Factory Mutual Insurance Co. lifted its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 2.6% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 98,935 shares of the medical research company’s stock after acquiring an additional 2,500 shares during the quarter. Factory Mutual Insurance Co.’s holdings in Thermo Fisher Scientific were worth $47,985,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in TMO. ICICI Prudential Asset Management Co Ltd increased its holdings in Thermo Fisher Scientific by 51.2% during the 3rd quarter. ICICI Prudential Asset Management Co Ltd now owns 17,720 shares of the medical research company’s stock valued at $8,595,000 after purchasing an additional 6,000 shares during the period. Ontario Teachers Pension Plan Board bought a new stake in shares of Thermo Fisher Scientific in the 3rd quarter worth approximately $11,543,000. Avestar Capital LLC increased its stake in shares of Thermo Fisher Scientific by 28.1% during the third quarter. Avestar Capital LLC now owns 5,823 shares of the medical research company’s stock valued at $2,825,000 after buying an additional 1,277 shares during the period. CFO4Life Group LLC purchased a new stake in Thermo Fisher Scientific in the third quarter worth $218,000. Finally, Signet Financial Management LLC bought a new stake in Thermo Fisher Scientific in the third quarter valued at $212,000. Institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Price Performance

TMO opened at $514.99 on Friday. The company’s 50-day simple moving average is $580.48 and its two-hundred day simple moving average is $545.13. Thermo Fisher Scientific Inc. has a 52-week low of $385.46 and a 52-week high of $643.99. The stock has a market capitalization of $193.49 billion, a P/E ratio of 29.03, a P/E/G ratio of 2.96 and a beta of 0.93. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.53 and a current ratio of 1.89.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings data on Thursday, January 29th. The medical research company reported $6.57 earnings per share for the quarter, beating analysts’ consensus estimates of $6.45 by $0.12. Thermo Fisher Scientific had a net margin of 15.05% and a return on equity of 16.92%. The company had revenue of $12.22 billion for the quarter, compared to the consensus estimate of $11.95 billion. During the same quarter in the prior year, the firm earned $6.10 earnings per share. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. As a group, analysts predict that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific declared that its board has approved a stock repurchase program on Thursday, November 6th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the medical research company to buy up to 2.4% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at Thermo Fisher Scientific

In other news, EVP Gianluca Pettiti sold 400 shares of the stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $541.20, for a total value of $216,480.00. Following the transaction, the executive vice president owned 20,752 shares in the company, valued at $11,230,982.40. This represents a 1.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Michael D. Shafer sold 10,725 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $600.00, for a total transaction of $6,435,000.00. Following the completion of the transaction, the executive vice president directly owned 18,731 shares in the company, valued at approximately $11,238,600. The trade was a 36.41% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 108,996 shares of company stock worth $63,355,935 over the last 90 days. 0.33% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms recently issued reports on TMO. Weiss Ratings reissued a “hold (c)” rating on shares of Thermo Fisher Scientific in a research note on Friday, January 9th. Wall Street Zen lowered Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. The Goldman Sachs Group started coverage on Thermo Fisher Scientific in a report on Tuesday, December 9th. They issued a “buy” rating and a $685.00 price objective for the company. Stifel Nicolaus upped their target price on shares of Thermo Fisher Scientific from $583.00 to $700.00 and gave the stock a “buy” rating in a research report on Friday, January 9th. Finally, Barclays lifted their price target on shares of Thermo Fisher Scientific from $625.00 to $650.00 and gave the company an “overweight” rating in a research report on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $633.68.

Thermo Fisher Scientific Company Profile

Thermo Fisher Scientific (NYSE: TMO) is a global provider of scientific instrumentation, reagents and consumables, software, and services that support research, clinical, and industrial laboratories. The company supplies analytical instruments and laboratory equipment, life sciences reagents and kits, specialty diagnostics, and a broad range of consumables used by researchers, clinicians, and manufacturers. Its offerings also include laboratory information management and data-analysis software, as well as service solutions such as instrument maintenance, validation, and logistics that help customers run complex workflows efficiently.

Thermo Fisher operates through multiple business areas that broadly cover life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services, including contract development and manufacturing for pharmaceutical and biotechnology companies.